At December 31, 2017, the trading investments for Yanik Inc., are as follows:

Instructions
(a) Prepare the adjusting entries required at December 31 to report the above investments at fair value.
(b) Show the financial statement presentation of the investments and the gains and losses on fair value adjustments at December 31, 2017. (Ignore income tax.)
(c) Assuming that on March 20, 2018, Yanik sold Co. B preferred shares for $13,500, prepare the journal entry to record this transaction.

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Security Investment Category FVTPL FVTPL FVTOCI Carrying Value $18,500 12,500 23,000 $54,000 Fair Value $16,000 14,000 19,000 $49,000 Co. A common shares Co. B preferred shares Co. C common shares Total